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What was that again about wind and solar power being unreliable? Some energy pundits are still tossing that old ball around, but meanwhile savvy investors are plowing billions into new energy storage facilities that spit out clean kilowatts on demand. Like they say, money talks, and in a fitting twist the latest example comes from the Golden State, California.

Massive New Energy Storage Facility For The Golden State

California has plenty of both wind and solar, and it also has an ambitious renewable energy goal, which makes it the perfect spot to launch ambitious clean power projects such as massive new energy storage facilities.

California is also the perfect place to demonstrate how existing, climate-killing fossil energy sites can transition rapidly into climate action sites. After all, the state has played a key role in the US fossil energy industry, despite its image as an environmental warrior. It is riddled with oil and gas wells in addition to fossil power plants and existing transmission lines, and some of them are ripe for the picking by clean energy investors.

The new energy storage facility is a case in point. The diversified energy firm Vistra is behind the project. They are pitching it as the largest battery-type storage facility of its kind, and they are not kidding.

Located in Moss Landing near Monterey, California, the facility got under way in 2020 and it just completed an expansion, bringing its capacity to 400 megawatts or 1,600 megawatt-hours, depending on who’s counting and why. According to Vistra, the expansion kicked Moss Landing into world’s record territory.

That’s nothing. So far, work on the first two phases has progressed ahead of schedule, and Vistra is looking forward to another expansion that will bring the plant up to 1,500 megawatts, which translates into 6,000 megawatt-hours.

For those of you keeping score at home, the State of California, Pacific Gas and Electric Company, LG Energy Solution, and the engineering and construction firm Burns & McDonnell also have a hand in the project.

The Moss Landing Energy Storage Project Is A Good Start…

Land use issues are already threatening to slow down the clean energy transition, so any use of existing energy-related sites is an advantage that helps speed up the transition to clean power. Large-scale battery facilities like the Moss Landing project enable more wind and solar development on the grid, so the impact ripples out far beyond the site itself.

Vistra CEO Curt Morgan explains that “what’s great about this particular site is that it has the space to support even further expansion – up to 1,500 MW/6,000 MWh – while responsibly utilizing our existing site infrastructure, including existing transmission lines and grid interconnection.”

The battery array is housed inside an existing turbine building at the site, which is almost as long as three football fields, so just imagine if all those batteries involved digging up a pollinator habitat instead of occupying pre-built space.

As for what has been on the site previously, Moss Landing has a fossil energy pedigree of historic dimensions. The story started back in 1950, when a power plant built by Pacific Gas & Electric went into operation. PG&E was the whole story for almost 50 years, until 1998 when a series of transactions from Duke Energy to LS General Finance to Dynegy landed Moss Landing in the lap of Vistra, by dint of a 2018 merger with Dynegy.

Vistra has gotten loads of good press for the Moss Landing energy storage facility, which comes under its Vistra Zero branch. Other energy storage projects in the works in California and Texas, where Vistra Zero also doing a lot of solar. They also count the 2,300 megawatt, 1990’s-era Comanche Peak nuclear power plant in Texas among its zero emission assets, though a pesky fire at the facility has raised some red flags relating to the stowing of all your energy eggs in one basket. As of this writing the plant’s two units are scheduled for decommissioning between 2030 and 2033.

…But Vistra Has A Long Row To Hoe

On the down side, the Moss Landing energy storage project is part of a broader plan for leveraging batteries to store electricity from fossil sources in addition to wind and solar, for at least as long as fossils power the grid.

In that regard, Vistra has much to do and little time before the climate piper must be paid. The Moss Landing energy facility is dwarfed by the holdings of Vistra subsidiary Luminant, which counts 39,000 megawatts worth of generation capacity across 12 states, counting Comanche Peak.

The Luminant portfolio includes some solar, but as of 2019 its solar holdings barely registered on a pie chart. Natural gas and coal still share the throne, with nuclear holding on to a somewhat meaty sliver.

Nevertheless, Vistra’s interest in wind power has been coming along at a nice clip, and other signs of a strong uptick in renewable energy activity have been growing this year, partly spurred by the settlement of a complaint brought by Sierra Club. The settlement involves closing Vistra’s Joppa coal and gas power plant in Illinois, and it provides the company with an opportunity to lobby for the proposed “Illinois Coal to Solar and Energy Storage Act.”

If passed, the bill would help shepherd along Vistra’s plans for converting several other coal power plants in Illinois to renewable energy. The company has already set aside $550 million for the effort, which would involve a total of nine sites, 300 megawatts in solar capacity, and 175 megawatts in battery-type energy storage. Vistra also plans a similar fate for its coal power plants in Ohio.

If you’re thinking the Joppa site will soon be plastered with solar panels, guess again. Apparently the site is not suited for conversion to utility scale solar power. A 45-megawatt battery will go there instead, which is enough to serve about 22,500 typical homes.

Beyond Batteries For Long Duration Energy Storage

That figure of 22,500 homes sounds impressive, but the big question is for how long. Battery-type energy storage systems typically only last just a few hours. That is enough to power a grid past peak demand periods without having to dial up additional fossil energy capacity, typically in the form of natural gas. However, four hours is not nearly long enough to replace all existing “peaker” plants.

Our friends over at Power Magazine recently cited a study by the National Renewable Energy Laboratory, which indicates that about 150 gigawatts in fossil energy peaker plant capacity is on track to retire within the next 20 years in the US. Battery-type energy storage facilities could only replace about 28 of those gigawatts under a four-hour scenario.

To replace the rest, something that lasts longer than four hours or so is needed. The US Department of Energy has been hammering away at the problem under its DAYS “Duration Added to ElectricitY Storage” program. The acronym is a bit of a stretch, and so is the endeavor. DAYS is looking for a minimum of 10 hours of energy storage, preferably reaching 100 hours or more.

That might sound like a tough nut to crack considering the state of battery-type storage. However, pumped storage hydropower already fits the bill, proving that it is possible. The problem with pumped hydro is the narrow range of options for site selection.

Flow batteries are another water-based option that allows for a much wider range of deployment. The water is contained in tanks and the whole thing can be packed into a a relatively small container, or a larger facility depending on the use case.

Another option is to take the gravity-based underpinnings of pumped hydropower and apply them to solid objects instead of water.

One interesting mashup in that area is the company Energy Vault, which is considering the use of recycled wind turbine blades in a gravity-based storage system that resembles a sideways Ferris wheel.

The compressed air energy storage field is also growing out and scaling up, so keep an eye on that, along with thermal systems and other interesting storage solutions.

Follow me on Twitter @TinaMCasey.

Photo: Moss Landing energy storage facility courtesy of Vistra.

 

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Kia’s new PV5 ‘Spielraum’ is the ultimate electric camping van and it’s coming soon

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Kia's new PV5 'Spielraum' is the ultimate electric camping van and it's coming soon

Your next camping trip is about to get an upgrade. Kia just dropped two new electric van concepts based on the PV5. With AI-powered home appliances like a refrigerator and microwave, and even a wine cellar, Kia’s new PV5 “Speilraum” is an electric van built for camping and more.

Meet the Kia PV5 Spielraum: An electric van for camping

Kia wasn’t lying when it said its first electric van would offer something for everyone. At the 2025 Seoul Mobility Show on Thursday, Kia and LG Electronics unveiled two new electric van concepts based on the PV5.

The Spielraum electric vans are built for more than just getting you from one place to another. With LG’s AI-powered home appliances, custom interiors, and a wine cellar, the Speilraum models take the PV5 to the next level.

Kia unveiled two new concept vans, the Spielraum Studio and Spielraum Glow cabin. For those wondering, the term Spielraum is German for “Play Space” or leeway. In other words, Kia is giving you more freedom to move.

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The Studio version is designed as a mobile workspace with LG appliances like smart mirrors and a coffee pot. Using AI, the system can actually determine how long your trip will take and will recommend when to use the appliances.

Even more exciting (at least for the vanlifers out there), the Glow cabin converts the PV5 into a mobile camper van.

With a refrigerator, microwave oven, and added wine cellar (you know, for those long trips), Kia’s electric van is sure to upgrade your next camping trip.

Kia-PV5-camping-van
Kia PV5 Spielraum Glow cabin electric camping van concept (Source: Kia)

Kia and LG signed an MOU and plan to launch production versions of the Spielraum electric vans in the second half of 2026. The South Korean companies are also developing a new series of advanced home appliances and other AI solutions that could be included in the vans when they arrive.

The PV5 will initially be available in Passenger, Cargo, and Chassis Cab setups. However, Kia plans to introduce several new versions, including a Light Camper model.

Kia-PV5-Spielraum-electric-van
Kia and LG Electronics unveil two new PV5 Spielraum concepts (Source: Kia)

At 4,695 mm long, 1,895 mm wide, and 1,899 mm tall, the Kia PV5 passenger electric van is slightly smaller than the European-spec Volkswagen ID.Buzz (4,712 mm long, 1,985 mm wide, 1,937 mm tall).

With the larger 71.2 kWh battery pack, Kia’s electric van offers up to 400 km (249 miles) of WLTP driving range. It can also fast charge (10% to 80%) in about 30 mins to get you back on the road.

Kia will launch the PV5 in Europe and Korea later this year, with a global rollout scheduled for 2026. Ahead of its official debut, we got a closer look at the PV5 on public roads last month (check it out here).

Would you take the PV5 Spielraum Glow cabin for camping? Or are you going with the Studio version? Let us know in the comments.

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Tesla Cybertruck’s recall fix is a joke that leaves burn mark and gap

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Tesla Cybertruck's recall fix is a joke that leaves burn mark and gap

Tesla Cybertruck owners are starting to get the fix for the truck’s recent recall related to a falling trim. The fix is ridiculous for a $80,000-$100,000 vehicle as it leaves a weld burn and a panel gap.

Last month, Electrek reported that Tesla had quietly put a containment hold on Cybertruck deliveries.

While the reason was not confirmed at the time, we reported that we suspected that it was a problem with the cantrail, a decorative trim that covers the roof ledge of a vehicle. For the Cybertruck, it consists of the highlighted section below:

A week later, Tesla announced that it recalled all Cybertrucks ever made over an issue with the cantrail: it is falling off the Cybertruck.

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Now, some Tesla Cybertruck owners are starting to receive the “fix” for the recall, but it is quite disappointing for what is a $80,000 to $100,000 vehicle.

A Cybertruck owner in New Jersey was already having issues with his cantrail and had to have his tent system installed, so his truck was already at the service center when the recall happened. He was given back his truck with the fix, but he was disappointed with the results, which left a mark on the cantrail and a significant panel gap. He shared pictures via the Cybertruck Owners Club:

According to the recall notice, the fix is as simple as removing the trim, applying some butyl patches, and reapplying the trim with two new nuts to secure it.

In the case of this Cybertruck, the new nut is leaving a significant gap on the chassis that Tesla should never have felt acceptable to deliver to a customer.

As for the burn or rust mark, the owner speculated that it was a weld mark as they weld the new nut, but there’s no welding required in the fix. Therefore, it’s not clear what happened, but there’s clearly a mark where the new nut is located.

Here’s a video of the process:

Electrek’s Take

Tesla is lucky. Many of its owners, especially with newer vehicle programs, like the Cybertruck, are early adopters who don’t mind dealing with issues like this.

However, this is a $80,000 to $100,000 vehicle, and most people expect a certain level of service with those vehicles.

You can’t have a remedy for a manufacturing defect that results in panel gaps and marks like this. It shouldn’t be acceptable, and Tesla shouldn’t feel good about giving back a vehicle like that to a customer.

On top of all of this, this is a pain for Cybertruck owners with wraps. They are going to have to rewrap the trim and it doesn’t look like Tesla is going to cover that.

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Bitcoin-related startup deals soared in 2024 alongside crypto prices, research shows

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Bitcoin-related startup deals soared in 2024 alongside crypto prices, research shows

Romain Costaseca | Afp | Getty Images

As crypto prices rallied to record highs last year, venture investors piled into new bitcoin-related startups.

The number of pre-seed transactions in the market climbed 50% in 2024, according to a report published Thursday from Trammell Venture Partners. The data indicates that more entrepreneurs entered the bitcoin arena despite a cautious funding environment for the broader tech startup universe.

Bitcoin more than doubled in value last year, while ethereum rose by more than 40%. Early in the year, the Securities and Exchange Commission approved exchange-traded funds that invest directly in bitcoin and then extended the rule to ethereum, moves that brought a wider swath of investors into the market. The rally picked up steam in late 2024 after Donald Trump’s election victory, which was heavily funded by the crypto industry.

The early-stage startup boom dates back several years. According to the Trammell report, the number of pre-seed deals in the bitcoin-native category soared 767% from 2021 to 2024. Across all early-stage funding rounds, nearly $1.2 billion was invested during the four-year period.

“With four consecutive years of growth at the earliest stage of bitcoin startup formation, the data now confirm a sustained, long-term venture category trend,” said Christopher Calicott, managing director at Trammell, in an interview.

Venture capital broadly has been slow to rebound from a steep drop that followed a record 2021. Late that year, inflation started to jump, which led to increased interest rates and pushed investors out of risky assets. The market bounced back some in 2024, with U.S. venture investment climbing 30% to more than $215 billion from $165 billion in 2023, according to the National Venture Capital Association. The market peaked at $356 billion in 2021.

Trammell’s research focuses on companies that build with the assumption that bitcoin is the monetary asset of the future and use the bitcoin protocol stack to develop their products.

Read more about tech and crypto from CNBC Pro

The numbers weren’t universally positive for the industry. Across all rounds as high as Series B, the total capital raised declined 22% in 2024.

But Calicott said he’s looking at the longer-term trend and the increase in the number of pre-seed deals. He said the renewed interest in building on blockchain is largely due to technical upgrades and increased confidence in bitcoin’s long-term resilience.

“Serious people no longer question whether bitcoin will remain 15 or 20 years into the future,” he said. “So the next question becomes: Is it possible to build what the founder is trying to achieve on bitcoin? Increasingly, the answer is yes.”

Trammell has been investing in bitcoin startups since 2014 and launched a dedicated bitcoin-native VC fund series in 2020. Its portfolio includes companies like Kraken, Unchained, Voltage and Vida Global.

Recent reports show momentum in crypto startup funding more widely. In February, crypto VC deals topped $1.1 billion, according to data and analytics firm The Tie.

PitchBook forecasts that crypto VC funding will surpass $18 billion in 2025, nearly doubling the $9.9 billion annual average from the 2023 to 2024 cycle. The firm expects greater institutional engagement from firms like BlackRock and Goldman Sachs to deepen investor trust and catalyze further capital inflows.

Joe McCann, a former software developer, is launching his third venture fund, and said this one will be “exclusively focused on consumer apps in crypto.”

He draws a direct parallel to the internet’s early days.

“In the 1990s, VCs were investing in physical infrastructure,” said McCann, who runs Asymmetric, a digital asset investment firm managing two hedge funds and two early-stage venture capital funds, with $250 million under management. “Ten years later, it was Groupon, Instagram, Facebook — apps built on top. That’s where we are with Web3 right now.”

Don’t miss these insights from CNBC PRO

American Bitcoin co-founder Eric Trump: Crypto's the 'future of the modern financial system'

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